“The need for rapid mass transit to reduce traffic congestion and journey time is estimated to drive the bullet train/high-speed rail market.”
The bullet train/high-speed rail market, in terms of volume, is projected to grow at a CAGR of 5.54% from 2018 to 2025. The market is estimated to be 3,626 units in 2018 and is projected to reach 5,287 by 2025. The growth of this market is fueled by the rise in demand for mass rapid transit and approval of new HSR lines. However, high capital investment and operating costs of the high-speed rail network is inhibiting the growth of the bullet train/high-speed rail market.
“Increasing number of high-speed rail projects to drive the bullet train/high-speed rail market in Asia Pacific.”
Asia Pacific is expected to be the largest market for bullet train/high-speed rail. It is estimated to hold the largest market share, by volume, in 2018. This can be mainly attributed to the demand for high-speed trains for mass transit, thereby increasing the number of high-speed rail projects in the region. Chinese market in the region is estimated to dominate the bullet train/high-speed rail market due to its proposed projects to expand HSR lines and subsequently the fleet of a high-speed train.
“Growing demand for energy-efficient transport is a key driver for the growth of the electric propulsion segment market.”
The need for reducing carbon emissions results into the growing demand for energy-efficient transport for masses. Since electricity propels the bullet train/high-speed rails for operating at high-speed, it consumes considerably less energy as compared to alternate transporting modes. This factor is majorly responsible for the largest growth of electric propulsion for bullet trains/high-speed trains.